Let Your Business Vehicles Save Your Company Money With Vehicle Tax Incentives
Many businesses rely on their transportation fleet as a means of getting their products out to their local customers. They also use vehicles to bring
raw materials into their businesses in order to produce their products. Now it is possible to earn fleet credits on your vehicles if they meet certain
requirements. These vehicle tax incentives, depending on the particular qualifications, may come to you through the state of California or the federal
government. Your certified public accountant will be able to clarify which truck tax credits and other incentives are appropriate for your
Many people have made the switch from gas-guzzling large vehicles to fuel-efficient hybrids. Many cities use hybrid buses as a way to save on fuel
and reduce harmful emissions and earn emission credits at the same time. Along this line, there is a hybrid tax incentive available for California
businesses and their vehicles. Your company might qualify for a hybrid tax incentive of up to four thousand dollars for hybrid passenger vehicles and
fuel cell motor vehicles that qualify. Proposals are also being discussed at the state level to grant a hybrid tax incentive to California companies that
use clean-burning vehicles which is a waiver on sales tax when the vehicle is purchased by qualified companies.
On the Federal level, there are alternative fuel credits available. Alternative fuel credits range from $2,500 to $32,000 depending on the weight of the
If you are using a car or truck that runs on Lean Burn Technology, your company might qualify for other Federal emission credits. These can net your
company a savings of $400 to $2,400 per vehicle that uses the technology.
There are also business car and truck tax credits in the new Federal stimulus package that was recently passed. In the first year of depreciation that
you can claim on your business vehicle, you can deduct over $10,000 for cars and over $11,00